Did I just read crude oil tops $123?

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Rx Senior
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:puppy:

My goodness this thing isn't gonna stop is it? They talk about how it will be at the end of the year.....fuck that, how much will we be paying for gas/airfare/etc. 5 years from now?

Everyone will be on bicycles like in China.
 

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It will soon reach the price of bottled water.


the difference is one person does not drink 50-100 dollars a week in bottles water but will easily spend it on gas.....you are comparing apples to oranges.....you can get a case of water for 3.99-5.99 (poland spring, deer park etc) and it can last you 3-5 days depending on the person.....lets see 5.99 in gas last you 3-5 days
 

Cui servire est regnare
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Its insane and something this country is totally illequipped to deal with. We don't have the elasticity in our economy or budgets to just fit in a couple hundred dollars out of the blue every month that has never been there before.

Bottom line, its a big shit sandwich and we ALL will have to take a bite.
 

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What I can't understand is why the price of gas doesn't go much higher. If it cost $123 for a barrel of light sweet crude shouldn't gas be about $5 a gallon. When oil was at $50 gas was still around $3.00 a gallon
 

Rx Senior
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What I can't understand is why the price of gas doesn't go much higher. If it cost $123 for a barrel of light sweet crude shouldn't gas be about $5 a gallon. When oil was at $50 gas was still around $3.00 a gallon

I have been saying this for a whilie.

when oil was $11 gas was $1.75/gallon.

Makes me think they were really reaming consumers before and now it is catching up.


The other one that gets me is how airfare has barely gone up over the last 5 years although the price of oil is crazy high. Airlines keep losing millions of dollars and they aren't raising the fares drastically.
 

Rx God
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maybe because the cost to refine it hasn't changed (much), and the taxes are by the gallon, not a %age.
 

Rx God
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I have been saying this for a whilie.

when oil was $11 gas was $1.75/gallon.

Makes me think they were really reaming consumers before and now it is catching up.


The other one that gets me is how airfare has barely gone up over the last 5 years although the price of oil is crazy high. Airlines keep losing millions of dollars and they aren't raising the fares drastically.

$11 a barrel sounds wrong.
 

Rx Senior
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$11 a barrel sounds wrong.

oilprice1970.gif


looks like it was around 1998
 

I'll be in the Bar..With my head on the Bar
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Its not that hard to understand...
15 yrs ago and before when they wanted to sell gas they called the U.S. , we bought all we needed then the Euros got the rest.
Today when they want to sell gas there are companies from India, China, S.America and S.Africa ALL bidding on it.......
They dont ride bicycles in China anymore nor camels in India, They have suburbs just like we do and they use gas just like we do. Their demand grows everyday.

You Democrats wanted a global economy, you wanted to outsource every GD thing that Al Gore tells you leaves a carbon footprint then STOP YOUR DAMN BITCHING AND DO WHAT PEOPLE HAVE DONE FOR YEARS WHEN THE DEMOCRATS CONTROL THE ECONOMY...GRAB YOUR WALLET!!!!!
 

Rx Senior
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OK, but gas wasn't $1.75, more like $1

gas was not $1 in 1998....i remember cause I bought my first car that used the high grade and gas was usually $1.81-$1.89 next door.
 

I'll be in the Bar..With my head on the Bar
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By the way ...bought any Freon for your Airconditioner yet this year????

Last summer i was paying $59 for 30lbs...Today its $200 for 30lbs and going up about $30 a month.

I guess Bush and Haliburton are causing that too????
Or is it because they are usuing MORE of it in India and China than we are...o and they are MAKING IT THERE too, unlike us who no longer produce it since its soooooooooooooooo harmful to produce it in the U.S. but somehow is perfectly fine to produce anywhere else...
 

Rx Senior
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wow....that is crazy....boy am I glad our gas aren't double mainland prices anymore
 

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gas was .95 cents in 98'.

Yep, I was working as a driver at the time while in college and was paying about $0.90.

Also part of the reason oil is so high is commodity trader speculation. The real market cost of oil based on demand should be about $65 - $80 barrel. There is a premium right now due to the run up by energy traders. As funds rotate out of equities, stocks and real estate they have been put into commodities such as gold an oil artificially inflating the price. That is one reason Oil prices are so high while gasoline has failed to rise at the same pace.
 

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